OCM GOLD FUND

Schedule of Investments - August 31, 2020

(Unaudited)

Shares						Value
		Common Stocks	85.2	%
		Major Gold Producers	23.2	%
	65,000	Agnico Eagle Mines Ltd.			$	5,362,500
	120,000	AngloGold Ashanti Ltd. ADR				3,541,200
	200,000	Barrick Gold Corp.				5,930,000
	25,000	Kirkland Lake Gold Ltd.				1,330,250
	65,000	Newmont Corp.				4,373,200
						20,537,150
		Intermediate/Mid-Tier Gold Producers	14.9	%
	250,000	Alamos Gold, Inc.				2,615,000
	300,000	B2Gold Corp.*				2,014,719
	70,500	Centerra Gold, Inc.*				918,273
	125,000	Endeavour Mining Corp.*				3,465,195
	150,000	IAMGOLD Corp.				643,500
	50,000	Northern Star Resources Ltd.				503,393
	500,000	OceanaGold Corp.				1,153,787
	25,000	Pan American Silver Corp.				904,000
	25,000	SSR Mining, Inc.				536,250
	30,000	Torex Gold Resources, Inc.				463,201
						13,217,318
		Junior Gold Producers	27.5	%
	400,000	Alacer Gold Corp.*				2,762,956
	450,000	Argonaut Gold, Inc.*				955,612
	200,000	Calibre Mining Corp.				288,255
	250,000	Dundee Precious Metals, Inc.*				1,809,261
	150,000	Fortuna Silver Mines, Inc.*				1,092,456
	1,399,950	Jaguar Mining, Inc.*				9,122,643
	175,000	K92 Mining, Inc.				1,041,092
	1,000,000	Perseus Mining Ltd.				1,065,791
	550,000	Roxgold, Inc.*				683,073
	500,000	Wesdome Gold Mines Ltd.*				5,527,445
						24,348,584
		Exploration and Development Companies	10.1	%
	255,128	Adriatic Metals PLC				449,739
	298,300	Adventus Mining Corp.				295,007
	1,375,000	Emerald Resources N.L.				659,205
	750,000	Emmerson Resources Ltd.*				54,765
	1,282,000	Euro Sun Mining, Inc.				486,499
	200,000	Galway Metals, Inc.				249,923
	1,000,000	GR Silver Mining Ltd.				613,309
	2,750,000	Horizon Minerals Ltd.				273,823

Shares						Value
	123,880	Integra Resources Corp.			$	473,905
	775,000	Liberty Gold Corp.				1,277,407
	2,000,000	Matador Mining Ltd.				634,312
	180,000	New Found Gold Corp.				277,369
	400,000	Orca Gold, Inc.				183,993
	500,000	Paramount Gold Nevada Corp.				610,000
	2,680,000	Royal Road Minerals Ltd.*				760,196
	4,578,755	RTG Mining, Inc.*				641,661
	2,512,040	Sutter Gold Mining, Inc.* #				—
	604,500	Talisker Resources Ltd.				173,787
	1,595,000	Thor Explorations Ltd.				275,126
	400,000	West Vault Mining, Inc.				493,714
						8,883,740
		Royalty/Streaming Companies	9.5	%
	70,000	Maverix Metals, Inc.				298,200
	100,000	Osisko Gold Royalties Ltd.				1,230,000
	6,500	Royal Gold, Inc.				886,080
	75,000	Sandstorm Gold Ltd.				685,500
	100,000	Wheaton Precious Metals Corp.				5,340,386
						8,440,166
		Total Common Stocks
		(Cost $24,320,499)				75,426,958
		Warrants	0.0	%
		Exploration and Development Companies	0.0	%
	1,000,000	Emmerson Resources Ltd. Exercise Price 0.14 AUD, Exp. 9/30/2020*				—
	641,000	Euro Sun Mining, Inc. Exercise Price 0.55 CAD, Exp. 6/5/2023*				—
						—
		Total Warrants
		(Cost $0)				—
		Short-Term Investment	14.4	%
	12,766,913	UMB Money Market Fiduciary, 0.01%				12,766,913
		Total Short-Term Investment
		(Cost $12,766,913)				12,766,913
		Total Investments	99.6	%
		(Cost $37,087,412)				88,193,871
		Assets less Other Liabilities	0.4	%		348,326
		TOTAL NET ASSETS	100.0	%	$	88,542,197

ADR – American Depository Receipt

PLC – Public Limited Company

AUD – Australian Dollars

CAD – Canadian Dollars

*	Non-income producing security.
#	Level 3 security fair valued under procedures established by the Board of Trustees, represents 0.00% of Net Assets. The total value of this security is $0.